Vladimir Ribakov analyzes GBP/USD across multiple timeframes, identifying bearish divergences on the daily and 4-hour charts that suggest a potential sell opportunity near recent highs. He notes a major support zone on the 4-hour chart and explains how 1-hour confirmation would signal a strong rally to sell.
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Hello traders, how are you? Vladimir here from Home Trader Club, and in this video I want to talk about the pound-dollar and to make a quick follow-up on the idea I shared with you on the last weekly forecast. If you missed the weekly forecast, make sure you watch that, and you can find it in my channel or right now on the right top corner of this video. You will find a direct link to watch that. So let's see what the pound-dollar has and where are Our opportunities. Before we start, big thanks and thumbs up to Eightcap Broker for supporting this channel and my community. To enjoy the best of the offers we have together with Eightcap, get access up to 1 year to the Home Trader Club, get your license to any of my trading systems and private mentoring sessions, follow the link below this video in the description. So I refer to the same idea we were talking about on the weekly forecast in one of the recent videos. where we wanted to see the break below this low in order to start the momentum. So the first leg gained massive momentum, and now we see the price coming back for a retest. So the— in order to answer the question, where are the opportunities and what levels should we pay attention to, let's quickly remind what do we have on this pair and why am I looking to sell these rallies. So according to the weekly chart, I believe we should see the pound-dollar trying to complete either ABCD before further big move up, or some sort of a range here like this where the buyers will start slowly build up, build up their positions. And by the next quarter or so, when the Federal Reserve will have even more pressure to start cutting the rates, the pound can start making its flight to the next levels. Okay, taking it to the daily chart. On a daily chart, we did have 3 higher highs, higher lows, which ended up with the conditions of bearish divergence— higher highs on the chart versus lower highs on the indicator. With that in mind, usually the market brings to— brings back the possibility of ABCD correction which is currently building up, or some sort of a range which was building up before this breakout actually took place and happened. So the biggest question is what's coming next, because we do see the market is trying to make some sort of ABCD, but for that to become a valid one, it has to break these highs. Okay, and usually, usually By the time that the trending structure develops, the corrective structure goes in pretty much the same angle. And if that is the case, then it's very likely to assume that the correction will still be here with us, at least as long as the last highs manage to hold. With this idea, we drop down to the 4-hour chart, and on the 4-hour chart, after breaking the Key lows we were talking about in the previous video. The market is now making a pullback to this very level. So what do we have? We have all these major supportive zones, right, with many spots that were broken before or were tested before now coming in a retest. All that is a very key zone. If we take a look here on the volume profile, Then again, we see huge balance zone with the volume profile. And also, even maybe the most interesting part, the way I see that, is the fact that we are building here a potential bearish hidden divergence where the market is making lower highs but indicator is making higher highs. And I'm watching here on the MACD histogram, of course. Now, for that to become valid, the lower time frame should for sort of a verification. And the way I expect that the pound should do something like that, and if the 1-hour chart will also complete a bearish divergence where the market makes higher highs but fake highs in that case, and the indicator makes lower highs, this should be an absolutely fantastic indication that the pound-dollar is ready for the next drop down. Okay, so that's the condition I want to see. And basically it will be classical because if the 1-hour chart forms that, take a look what happens in the first leg of the 1-hour chart. We do see the structure of 3 higher highs, higher lows. So any correction here and then final rally should be absolutely phenomenal, uh, verification to all these conditions. Okay, now key, um, zone as we were talking about are the recent highs. As long as we are below that It's very likely to assume that the pound dollar should gain the sell around this area. Build up the plan, and I personally follow the plan the way I explained to you in this video. So that's pretty much it. Straightforward. Let me know what do you think about the pound dollar. Share your thoughts in the comment section. If you have any question, don't hesitate to ask, of course. And thanks for watching. Feel free to share this video with anyone who you believe can benefit watching that. Also, I would like to invite you to our trading family, the Home Trader Club, where you will get your access to our trading courses, trading community, real-time education, and real-time trading opportunities, live sessions, and so much more. Join our family with the link below this video in the description. Thanks for watching. Best to you and yours. I'll see you soon with more. Good trading. Bye for now. Bye for now.
